Global Unmanned Aerial Vehicle (UAV) Market Report and Forecast 2024-2032

Global Unmanned Aerial Vehicle (UAV) Market Size

The global unmanned aerial vehicle (UAV) market reached USD 37.46 billion in 2023. The market is expected to grow at a CAGR of 16.5% between 2024 and 2032, reaching almost USD 148.19 billion by 2032.

Key Takeaways:

• The US Department of Defence deploys DoD UAS across all branches, including the National Guard, totalling over 11,000 for training and missions.

• According to the World Bank, US military spending has risen, reaching USD 876.94 billion in 2022, greatly boosting the global unmanned aerial vehicle UAV market.

• UAVs find applications in defence, aerial photography, precision agriculture, forest fire monitoring, river surveillance, environmental monitoring, policing, infrastructure inspections, smuggling deterrence, product deliveries, entertainment, and drone racing.

The growth of the global UAV market is being propelled by the rising utilization of UAVs in civil and commercial settings, their increasing deployment in border patrol and anti-terrorism efforts, as well as the permissions granted by regulatory bodies worldwide for their use across various industries.

In the business sector, small UAVs are becoming more prevalent for tasks such as data collection, aerial photography, and agricultural uses. In military contexts, unmanned combat aerial vehicles (UCAVs) are seen as cost-effective alternatives to traditional combat aircraft.

As per the World Bank, the United States military spending has shown an upward trend, reaching USD 876.94 billion in 2022. This surge in expenditure has contributed significantly to the expansion of the global unmanned aerial vehicle (UAV) industry, primarily due to the increased utilization of UAVs in military and defence operations.

Key Trends and Developments

The global unmanned aerial vehicle (UAV) market growth is fuelled by technological innovations, government initiatives, safety measures, and disaster management strategies.

February 2024

Aviant launched the world's longest-distance autonomous UAV delivery in Lillehammer, Norway. Residents receive groceries, medicines, and restaurant meals via Kyte UAV service, delivered right to their doorstep.

February 2024

South Korea launched UAV development for deployment on ROK Navy vessels, with reconnaissance and surveillance roles. Hanwha Systems leads as the main contractor and systems integrator, utilizing the S-300 platform provided by Schiebel.

September 2023

Cipla introduced drone-based deliveries of vital medications (including cardiac, respiratory, and essential chronic therapies) to hospitals and pharmacies in Himachal Pradesh, partnering with Skye Air Mobility, covering around 50 kilometers in less than 25 minutes.

August 2023

Iran revealed its newest indigenous UAV, named "Mohajer-10," boasting improved features such as increased altitude, extended flight duration, and enhanced payload capacity.

Technological innovations and advancements

The global unmanned aerial vehicle (UAV) market development is attributed to advancements in GPS, navigation, battery life, and sensors that enhance UAV versatility. Features such as obstacle detection, AI, and machine learning enable precise tasks. Further, reduced costs and increasing accessibility result from industry collaboration and innovation.

Government initiatives

As per the global unmanned aerial vehicle (UAV) market analysis, government regulations and supportive policies are pivotal in moulding the Nation's strive to create precise legal frameworks that ensure safe and responsible UAV operations, encompassing aspects such as pilot qualifications, flight boundaries, privacy protection, and safety criteria.

Disaster Management

Post-natural disasters such as earthquakes, floods, and wildfires, UAVs swiftly assess and provide real-time data, improving rescue and relief efforts. Their ability to reach inaccessible areas, provide aerial images, and deliver essential supplies makes UAVs crucial in emergencies.

Safety measures

Rising incidents of workplace injuries drive demand for commercial UAVs in public and private sectors, aiming to reduce human labour and improve worker safety. This trend is amplified by increased adoption in industries like mining, construction, and energy for hazardous tasks, such as inspecting high-voltage power lines, and unstable structures, and collecting data in risky environments thus boosting the global unmanned aerial vehicle (UAV) market.

Global Unmanned Aerial Vehicle (UAV) Market Trends

As per the global unmanned aerial vehicle (UAV) market report, in the agriculture sector, UAVs offer swift and efficient monitoring of expansive fields, supplying essential information on crop health, irrigation requirements, and pest levels. Likewise, the growing integration of commercial UAVs in the logistics industry aids in cutting delivery times and labour expenses, fuelling global demand.

Additionally, top companies are investigating UAV delivery to expedite shipping, especially for small, time-critical packages. Moreover, the increasing use of commercial UAVs contributes to cost reductions while boosting operational efficiency and productivity.

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Market Segmentation

Global Unmanned Aerial Vehicle (UAV) Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Class

• Small and Medium UAV

• Large UAV

Market Breakup by Systems

• Platform

• Payload

• Datalink

• Ground Control Station

• UAV Launch and Recovery System

Market Breakup by Function

• Inspection and Monitoring

• Remote Sensing

• Product Delivery

• Search and Rescue

• Surveying and Mapping

• Border Management

• Photography and Film Production

• Others

Market Breakup by End Use

• Military and Defence

• Civil and Commercial

• Energy and Power

• Construction and Mining

• Others

Market Breakup by Region       

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

The small and medium UAV segment is driving growth of the global unmanned aerial vehicle (UAV) market by providing cost-effective, agile, and readily deployable aerial solutions across various industries

Small and medium UAVs find applications in aerial photography, precision agriculture, forest fire monitoring, river monitoring, environmental surveillance, policing, infrastructure inspections, smuggling deterrence, product deliveries, entertainment, and UAV racing.

Large UAVs are utilized for intelligence gathering, surveillance, target acquisition, reconnaissance, and carrying aircraft ordnance such as missiles, ATGMs (Anti-Tank Guided Missiles), and bombs.

Based on function, border management is supplementing the global unmanned aerial vehicle (UAV) market growth by revolutionizing military and defence operations with improved reconnaissance, surveillance, and target acquisition capabilities

The increasing requirement for immediate situational awareness, border protection, and counterterrorism initiatives drives the need for sophisticated UAV technologies.

UAV remote sensing technologies capture images, thermal readings, multispectral and hyperspectral data, LiDAR measurements, and other forms of information. UAVs are used to photograph or film specific areas or events,

such as concerts, inaugurations, and political rallies, from the air without disrupting the community.

Based on end use, the global unmanned aerial vehicle (UAV) market share is led by the military and defence sector

UAVs can play a role on the battlefield by designating targets for precision-guided munitions launched from manned systems or by directly deploying these munitions themselves.

In mining operations, UAVs gather a wealth of data points, surpassing traditional surveying and inspection methods. It enables the mining industry to acquire more precise and systematic data for operations such as volume estimations.

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Competitive Landscape

Market players are driving the global unmanned aerial vehicle (UAV) market growth by offering UAVs for defence, aerospace, and security solutions tailored to air, land, and maritime uses.

Northrop Grumman Corporation, founded in 1994 and based in the United States, is a prominent global aerospace, defence, and security company. Much of its operations are conducted with the U.S. government, particularly the Department of Defence and the intelligence community, but it also offers solutions to clients worldwide, including commercial customers.

BAE Systems plc, established in 1999 and headquartered in the UK, is a defence contractor and systems integrator specializing in defence, aerospace, and security solutions for air, land, and maritime applications. The company provides a range of products, including advanced electronics, cybersecurity and intelligence solutions, information technology services, and support services.

Israel Aerospace Industries Ltd., founded in 1953 and based in Israel, specializes in the design, development, production, and maintenance of civil aircraft, UAVs, fighter aircraft, missiles, avionics, and space-based systems. IAI is primarily focused on engineering, aviation, and high-tech electronics, along with manufacturing military systems for ground and naval forces.

AeroVironment, Inc., established in 1971 and headquartered in the US, specializes in the marketing of small Unmanned Aircraft Systems, Loitering Munition Systems, Unmanned Ground Vehicles, and High-Altitude Pseudo-Satellites. The company provides actionable intelligence to empower troops, engineers, and other professionals, enabling them to proceed with confidence.

Other key players in the global unmanned aerial vehicle (UAV) market are Elbit Systems Ltd., Teledyne FLIR LLC, Raytheon Technologies, The Boeing Company, General Atomics, Airbus SE, Safran S.A., Thales Group, mdGroup, and Lockheed Martin Corporation among others.

Global Unmanned Aerial Vehicle (UAV) Industry Analysis by Region

In North America, advancements in technology and regulations, alongside diverse UAV applications, drive the industry. Robust research, entrepreneurship, and UAV roles in agriculture, infrastructure, and safety propel market growth, supported by accommodating regulatory frameworks emphasizing safety.

The Department of Defence in the USA utilises DoD UAS across all four defence services, including the National Guard. Currently, the Department operates over 11,000 UAS for domestic training and overseas missions.

As per the global unmanned aerial vehicle (UAV) market analysis, Asia Pacific boasts a growing aerospace industry, particularly in China and India, along with investments in UAV startups. This dynamic ecosystem encourages ongoing innovation and competition. The region's expansive landscapes and diverse industries drive demand for UAVs with a range of capabilities, from precision agriculture to disaster response.

Key Highlights of the Report

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Unmanned Aerial Vehicle (UAV) Market Report Snapshots

Unmanned Aerial Vehicle (UAV) Market Size

Unmanned Aerial Vehicle (UAV) Market Trends

Unmanned Aerial Vehicle (UAV) Companies

Unmanned Aerial Vehicle (UAV) Market Regional Analysis